The firm reportedly plans to sell current shares in a tender offer allowing employees to sell their shares, differing from a standard funding round to raise capital for business operations.
OpenAI has reportedly signed a deal that has increased the valuation of the San Francisco artificial intelligence (AI) company to $80 billion or more, marking a nearly threefold increase in less than 10 months.
According to a New York Times report, the firm plans to sell current shares in a tender offer led by Thrive Capital. This approach allows employees to sell their shares, differing from a standard funding round aimed at raising capital for business operations.
In a comparable arrangement last year, venture capital firms Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global agreed to purchase OpenAI shares in a tender offer, establishing the company’s value at approximately $29 billion, according to the report.
